A startup is a "newly" established company which is still not really well know, typically led by entrepreneurs, that aims to develop a scalable business model, often with an innovative idea, significant growth potential, and high risk, seeking external funding (like venture capital) to grow rapidly beyond its initial stages and disrupt existing markets. Key characteristics include a search for a repeatable and scalable business model, high uncertainty, and an intent for rapid growth, distinguishing it from a typical small business.